• Report: #308063

Complaint Review: Edward Jones

  • Submitted: Mon, February 11, 2008
  • Updated: Wed, April 20, 2011

  • Reported By:las vegas Nevada
Edward Jones
Manchester Rd St. Louis, Missouri U.S.A.

Edward Jones Worldcom edward Jones Ripoff St. Louis Missouri

*REBUTTAL Individual responds: Edward Jones (MCI) Worldcom Fraud

*Consumer Suggestion: Pick 3

*Consumer Comment: Not fraud

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I was shown worldcom buy reports by edward jones representative shortly after 9/11/01.

I'm wondering if anyone else has a copy of that internal buy recommendation for "ideal" portfolio distributed by Edward Jones or remembers an article where Edward Jones Rep says he regrets recommending worldcom to people who lost money after company collapsed. I lost my life savings. Anyone help with edward jones worldcom fraud?

Ryan
las vegas, Nevada
U.S.A.

This report was posted on Ripoff Report on 02/11/2008 03:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/Edward-Jones/St-Louis-Missouri/Edward-Jones-Worldcom-edward-Jones-Ripoff-St-Louis-Missouri-308063. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Individual responds

Edward Jones (MCI) Worldcom Fraud

AUTHOR: rider - (United States of America)

Listen, you don't have a clue about the case or specifics so please don't pretend to understand and comment on something with your insipid simpleton wise cracks.

First of all as an Edward Jones Representive licensed by NASD now called FINRA you have a duty to not knowlingly act fraudulently.  Suppose the Rep at the time of suggesting and introducing Worldcom is without the client/customer secretly using his office/agency to day trade that particular stock?  Yes that is right, I had no idea he was day trading or even allowed to be making purchases and sells all day long commission free while he was using reps from American Funds and his office to put on a slick show for common investors.  Isn't it even worse when he knows I'm going to get an injury settlement and he is recommending Worldcom and daytrading but not telling me he is daytrading or even allowed?  He also altered fraudulently my income and assets in order to make the purchases.

As you may or may not know one is binded to arbitration where one has to pay an arbitor fee to even file a claim against a broker/rep/or agency Mr. smarty pants.  And even then prove your case and maybe be left with zero.  Yeah you go read the prospectus and make an informed decision yourself clown.  I eventually settled for .10cents on the dollar seven yrs later and now am bankrupt. You sound like a biased financial rep person or shill for someone else.

Unfortunately, the financial fields and industry is a giant scam and people are defrauded everyday.Funny how Goldman Sachs can cause an economic meltdown and not even one person is under indictment and doesn't all the good ole' boys from Goldmans work for Federal Reserve, FINRA etc.The fact is that many reps try to be ethical and are trying to help people.  However there are reps that are committing fraud and their employer and government agencies do nothing but protect them and it is fraud.
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#2 Consumer Suggestion

Pick 3

AUTHOR: Cory - (U.S.A.)

You really are in trouble if your broker recommended worldcom, enron and bear-sterns. I'd find a new broker.
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#3 Consumer Comment

Not fraud

AUTHOR: Wise Buy - (U.S.A.)

It is unfortunate that you and many others lost lots of money as a result of the fradulence of Time-Warner, not Edward Jones. You have no claim against Edward Jones - the information they showed/provided to you was not a promise or contract for anything and should have stated the risks involved in any investment you make with any financial institution.
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